Disruption Blueprint Podcast

Disruption Blueprint Podcast

Crafting And Growing Your Own Firm As An Independent Advisor with David Koren (Ep. 33)

May 09, 2023

As an independent advisor, you shouldn’t fear growth. You should invest in it!

In this episode, Shannon Spotswood interviews the Founder of RVA Wealth Management, David Koren, MBA, ChFC®, CLU® about his advice for advisors considering independence, the importance of taking risks and investing in your business, and the 10-3-1 rule. He also discusses the benefits of crafting your own firm and succession planning, as well as incorporating philanthropy into the client experience. 

David discusses: 

  • His advice for other advisors who are either in a captive environment thinking about independence or are independent but want more control and independence
  • Why he decided now is the time to grow even bigger and invest more into marketing
  • Why entrepreneurs can’t expect to build a large and thriving practice without taking risks and investing in their business
  • What the 10-3-1 rule is and why it has become a lost art
  • The perk of being able to craft your own firm and  retire when you decide to as an independent advisor
  • Where he is on his succession plan journey and how he came to realize that he needs to get serious about it
  • How to incorporate giving back to the community as an active part of your client experience
  • What he thinks the industry will look like in the next five to ten years
  • And more!

Connect with Shannon Spotswood:

Connect with David Koren:

About our Guest:

As founder and retirement planning specialist at RVA Wealth Management, David focuses on asset protection and growth, helping his clients to manage income flow and enjoy their retirement years. David has worked in the financial services industry in one way or another for over 35 years, starting out as an agent for a national life insurance company while still an undergraduate at Virginia Tech.

Over his long career – which has included working as an executive for insurance companies, brokerage operations, an internet healthcare startup, and now an independent wealth management firm – David has always focused on education. He considers teaching to be his calling and enjoys educating people on personal finance. David teaches financial education classes in the Richmond area and also offers more in-depth workshops at the office to further explore areas of client interest. 

David considers all of his clients as family and strives to grow and protect their assets in everything he does. David and his wife Robbie have two children.  They have a strong focus on family and both believe exercising and staying healthy play an important role in family life.

Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

Information here may be provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither our guest nor RFG Advisory guarantee the accuracy of third-party sources.

The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC (“RFG Advisory or “RFG”), a registered investment advisor. Private Client Services and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.